Bitcoin pushes past $4,000 as technical gauge turns positive
Bitcoin gained as much 6.4% to $4,077 in New York. Other tokens were mixed, with Litecoin jumping as much as 22% and Ether down about 1%.
New York: Bitcoin climbed above $4,000 for the first time this year, helping to push the volatile cryptocurrency into positive territory after a brutal 2017 that saw investor post losses of more than 70%.
The biggest digital currency gained as much 6.4% to $4,077 in New York. Other tokens were mixed, with Litecoin jumping as much as 22% and Ether down about 1%.
One technical measure that traders follow indicates more gains may be in store. The Directional Movement Index crossed into positive territory for the first time since mid-November, ending Bitcoin’s “very strong” selling streak, as indicated by an Average Direction Index over 50. It should now be entering a new positive buying phase. This could be the start of the next run-up, as positive trends normally are followed by rising prices, technical analysis suggests.
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